nice to meet a fan of lunapark.
Karl Heinz Roths article has been translated to greek. I'll ask, if there are plans to produce an english version too.
I'm puzzled by your phrasing "a different view". I really think my position is a little different.
That's not surprising and not bad. The latest issue of lunapark presents three more or less different positions on the Euro crisis - texts by Winnie Wolf, Lucas Zeise and my article. There is room for debate. Thanks for your to the texts by Ingo Stützle.
One set of differences I see in questions of economic theory:
1) Where does the determination of exchange rates come from?
Here I take the oldfashioned position of Anwar Shaikh and Rania Antonpoulos, refusing the Ricardo-view of comparative cost and insisting on the real basics of absolute advantage in international trade. In this view there is not much room for manipulationof exchange rates by central banks.
2) Where how does "cheap money" emerge? About this question there is some debate even in the "mainstream" world, the for example:
Benjamin M. Friedman/Kenneth N. Kuttner: Implementation of Monetary Policy: How Do Central Banks Set Interest Rates? (June 21, 2010)
Daniel L. Thorntons more then ten years ago put it into quite smart remark:
"The critical question is when did the Fed move the market and when did the market move the Fed?" (The Relationship between the Federal Funds Rate and the Fed's Federal Funds Rate Target: Is it Open Market or Open Mouth Operations? Discussion paper 9/00, Economic Research Center of the Deutsche Bundesbank.)
A second set of differences is about the historical and current situation: I have seen no "german resistance" against the introduction of the Euro. And I see no split in the german Elites when it comes to defending the Euro - with Greece included - or not. There is a very broad consensus on this issue. And it goes on from the Chamber of Commerce trough the parliament (only the "Left Party" dissenting) to the labour unions.
Yes, more new business is in the making outside the Euroarea - but on the foundation of the controll of this economic "fatherland".
The dispute is about "how", not "if" to share the cost of defending the german hegemonial position. The dispute is sharp, no doubt, there have been "casaulties" (Axel Weber, head of Bundesbank, dropped out, too Jürgen Stark, member of the board of ECB). But the foundation is firm: The level playing field of the Eurozone, exploited by the competitiveness of german firms.
That's my view. Further evidence should be given. There is room for debate.
Sebastian
-----Ursprüngliche Mitteilung----- Von: Angelus Novus <fuerdenkommunismus at yahoo.com> An: lbo-talk <lbo-talk at lbo-talk.org> Verschickt: Sa, 15 Okt 2011 12:52 am Betreff: Re: [lbo-talk] The EU After the Euro Crisis
Hi Sebastian,
I am a big fan of Lunapark21 and I agree with what you write. In fact, I had even considered translating your article, so thank you for saving me the time.
Nonetheless, I'm puzzled by your phrasing "a different view". Ingo's writings on the crisis since the very beginning have been focused upon Germany's role, not just in the most recent article I posted but also in this one here: http://www.stuetzle.in-berlin.de/2011/07/how-germany-profits-from-greece%e2%80%99s-crisis/
But
since you're here, I wanted to ask if there are any plans to translate Karl Heinz Roth's article "Kahlfraß". If not, I'd definitely be up for doing so. There's some excellent historical background in that one.
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